The manufacturing sector continues to be a drag on economic growth in the US and around the world. Consumer spending and the services sector have been counterweights. But new survey data for August suggests that services may be vulnerable. Weakness in manufacturing and services appears to be creating the biggest threat to the economy since the expansion started ten years ago.

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Fed Chairman Powell’s speech today will be widely analyzed: Reuters
Manufacturing activity continues to soften around the world: WSJ
Will G7 nations unite to combat slowing global growth? Bloomberg
Is the Trump administration planning a new tax cut? WSJ
US Leading Economic Index rose 0.5% in July: CB
US labor market still on track for growth via jobless claims: CNBC
US growth weakens to a crawl in Aug via PMI survey data: IHS Markit